Algeria will impose new taxes in 2017 and 2018

date 2016/10/18 views 1621 comments 0
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icon-writer By: Samira Belamri / English version: M. A.

The government plans to raise its fiscal revenues by including measures in the financial draft law to reduce fiscal procedures and establishing new ways to extend them.

This comes as the Public Treasury lost the half of oil tax incomes due to price fall. 

The government will also establish other taxes. This means that tax payers will undergo a new fiscal pressure which will be doubled by 2016. This is part of the government’s plan which aims at reaching $7.25 billion in tax revenues.

In 2015, tax revenues were estimated at $24.22 billion and they are expected to reach $25.20 billion by the end of 2016.

Official documents show that the government will impose more taxes in 2018. Taxes General Department will work to collect $29.24 billion of taxes. Tax revenues out of hydrocarbons are expected to go up to $32.46 billion in 2019.

The finance ministry established measures to simplify and reduce tax paying procedures. Payers will have a timetable of 36 months and can pay 10 percent first.

 

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